Retail/residential combos next for condos

TORONTO — Retail realty developer RioCan is coping with the “manhattanization” of Toronto and other Canadian metropolises by planning for the integration of retail and residential space. With an increasing crunch for retail space, placing condominiums atop smaller urban stores may be the wave of the future, RioCan CEO Edward Sonshine tells Bloomberg News. The company will invest at least $600 million over the next five years to develop 3,000-4,000 such mixed-use units.